The Portland City Council is considering establishing a new enterprise zone that it hopes will spur more investment on Portland’s east side.

The East Portland E-Zone aims to attract new industrial developments roughly east of Cesar Chavez Boulevard, which used to be known as 39th Avenue. Among other benefits, e-commerce enterprise zones allow businesses to claim tax credits worth $2 million or 25 percent of their total technology investments, whichever is less.

The state’s business development department, Business Oregon, would oversee the program.

“(The program) will advance our coordinated regional economic development strategy to promote business retention, expansion and targeted recruitment,” wrote Sean Robbins, Greater Portland Inc.’s president and CEO, in a letter to Business Oregon Director Tim McCabe. “We believe the associated return on these tax abatements will lead to job growth with local investment to provide long-term economic stability to the entire region.”

The Portland Development Commission is also considering the proposal. Both the Council and PDC board are expected to vote on the measure at their Wednesday meetings.